Sensex down 175pts; Infosys, Satyam down 2%

The Sensex is now down 175 points at 14,744.

Infosys, Reliance Energy and Satyam have dropped 2% each to Rs 1,843, Rs 752 and Rs 441, respectively.

HDFC Bank, NTPC, ACC, Wipro, Reliance Communications and SBI have slipped around 1.5% each to Rs 1,133, Rs 165, Rs 1,010, Rs 460, Rs 512 and Rs 1,526, respectively.

Larsen & Toubro, Bharti Airtel, ICICI Bank, Reliance, BHEL, HDFC, Hindalco, Cipla, Grasim, Dr.Reddy's and Mahindra & Mahindra are the other major losers.

Tata Steel is the sole gainer among the index stocks.